Why did Bitcoin surge past $70K? Biden parody memecoin spikes 54%. Grants to enjoy technical mentorship and founder support. Brevan Howard Backs Berachain with $69M.
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😱 Biden parody memecoin hits $250M market cap, spiking 54% in just a day
🤩 Bitcoin's Back on Top: Surges Past $70K
After a brief dip, Bitcoin's making headlines again by zooming past the $70,000 mark. This bounce back is catching everyone's eyes, especially considering the recent chill from a dip in Bitcoin ETFs. Let's dive into what's fueling this comeback.
🛑 End of 7-Week Crypto Inflow Cycle
In a huge shift, last week marked the end of a prolonged period of capital influx into cryptocurrency investment products:
Last week saw over $942 million pulled from crypto investments, halting a 7-week inflow streak.
The retreat followed a record $12.3 billion inflow, slashing total assets under management by $10 billion to $88 billion.
Investor hesitation due to recent price drops led to reduced inflows, notably in new U.S. ETFs.
Bitcoin faced the brunt, with 96% of outflows, while short-bitcoin positions also experienced withdrawals.
Analysts suggest the outflows, particularly in Bitcoin ETFs, were influenced by Genesis's GBTC share sales.
📈 Bitcoin's Dormant Coins Stir: Highest Activity in 2 Years
Bitcoin's Age Consumed metric, tracking the movement of long-inactive coins, has spiked significantly.
Santiment reports a surge to 162.89 million on March 23, marking the highest activity from dormant addresses in over two years. The recent activity surge in Bitcoin's dormant coins suggests more trading and could lead to big price changes.
🥊 Bitcoin's Bullish Breakout: Aiming for New Heights
Bitcoin's recent surge has the crypto world jumping with excitement. After a brief dip below $61,000 and some lukewarm interest in Bitcoin ETFs, Bitcoin's breaking free from its consolidation pattern hints at a promising uptrend. Here's what's got everyone talking:
Surpassing the 2021 Peak: Bitcoin also crossed the $68,000 mark, a move historically followed by significant rallies.
Central Banks' Dovish Stances: With central banks like the Fed showing a willingness to tolerate higher inflation, Bitcoin could see further gains.
Election Year Surge: Historical data shows Bitcoin typically performs well in U.S. election years, predicting a possible 100%-200% increase in value.
In short, with these factors at play, Bitcoin's path seems set for new all-time highs, potentially reaching up to $83,000 and beyond. As the market adjusts to these developments, all eyes will be on how high Bitcoin can go.
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Carbonated Inc. raised $13M in a Series A funding led by Com2uS for its NFT shooter game MadWorld. Along with major investors like A16z and Bitkraft Ventures, the funding aims to fast-track the game's development for iOS and Android. MadWorld, which features tokenized land based on real-world locations, has already opened registrations for early access testing.
Brevan Howard Digital and Framework Venturesled a $69 million funding for Berachain, a DeFi-focused blockchain, at a $1.5 billion valuation. Building on Cosmos technology, Berachain is designed for Ethereum compatibility and introduces a novel "Proof of Liquidity" consensus. The platform, yet to launch but with an active testnet, aims to streamline crypto earnings via DeFi liquidity pools, distinguishing itself with a dual-token system for staking and transactions.
GigFi by MyGigsters is designed to address the financial challenges faced by gig workers, offering instant access to earned wages, income stabilization, and self-managed benefits through DeFi. This tool targets gig workers seeking greater financial security and independence by leveraging crypto and blockchain benefits.
Let’s get into Posty’s fresh pecks from the world of web3!
🪙 The Boden token, a Biden parody on Solana, hit a $250M market cap, spiking 54% in just a day. It's only on Raydium, not on big exchanges yet. Despite having no real backing, it's part of a memecoin boom on Solana that's got folks worried about the risk of scams.
📉 Bakkt, a crypto platform by the Intercontinental Exchange, might get delisted from the NYSE for its stock price falling below $1, closing at $0.5978 with a market cap of $80M, a huge drop from its $40 peak in 2021. The platform, aimed at institutional bitcoin trading and custody, has struggled to attract retail customers, leading to this financial downturn.
🤖 Apptronik, a pioneer in humanoid robots, has teamed up with Mercedes-Benz to explore advanced robotics in manufacturing. This collaboration marks a step towards revolutionizing how we work and interact with machines.
🪄 Paris Hilton's Roblox experience, "Slivingland,” notched over 3.2 million visits and generated the equivalent of a $60M ad campaign's impact. Her venture highlights her significant presence in the metaverse, blending fashion with digital innovation.
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